Cabinet nod to continuing IICA scheme till 2019-20
Published: Nov 22, 2017
By TIOLCORPLAWS News Service
NEW DELHI, NOV 22, 2017: IN a move to make the Indian Institute of Corporate Affairs (IICA) self-sustainable, the Cabinet has given its approval for continuation of the scheme on IICA for another three financial years (FYs 2017-18 to 2019-20) and providing grants-in-aid of Rs. 18 crore to the institute.
The training programs, research activities and projects conducted by the institute in partnership with public and private sector in the niche areas of Corporate Governance will enhance the skill sets resulting in increased employability of students as well as professionals.
The thrust of the institute is to become a prestigious institute in the field of corporate laws while enhancing its resources and revenues. It is envisaged that IICA will be an institute of national importance thereby becoming an engine of growth leading to increased economic activity. The improvement in the professional competence is also expected to help the professionals in tapping employment opportunities in emerging corporate areas including those in overseas.
The National Foundation for Corporate Social Responsibility (NFCSR) at IICA is responsible for Corporate Social Responsibility (CSR) initiatives. The Foundation has been designed around the new provisions of Companies Act, 2013. The NFCSR conducts various activities in partnership with Corporates in the field of CSR, oriented towards social inclusion.
The IICA is a think-tank and repository of data and knowledge to support rational decision-making for the policy makers, regulators as well as other stakeholders working in areas related to the corporate sector.